Austria
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The Austrian bank issued its first benchmark covered bond on Tuesday. The deal was highly oversubscribed even though the final spread offered little concession. -
The lender has mandated leads for a triple A-rated €500m no grow covered bond backed by mortgages, its first rated benchmark and the fifth deal from Austria this year.
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Austrian gaming company Novomatic joined a surge of issuance this Tuesday as it issued a €500m no-grow bond that pulled in interest from across Europe.
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Buwog, the Austro-German residential property company, added to the recent reemergence of convertible bond issuance on Tuesday, with the sale of a €300m deal, while the Belgian real estate investment trust Cofinimmo also came to market with a €230m deal to buy back bonds due in 2018.
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Egger, the Austrian wood-based panel maker, is returning to the Schuldschein market after one year and looking for tighter pricing, according to one banker.
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Raiffeisenlandesbank Oberösterreich has mandated joint leads for its first benchmark euro covered bond and the Bank of Queensland has hired leads to explore options for a potential structure.
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Raiffeisenlandesbank Oberosterreich has mandated joint leads for its first benchmark euro covered bond.
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América Móvil, the Mexican telecoms group controlled by Carlos Slim, has reduced its stake in Austrian communications provider Telekom Austria by 0.89%, in a trade that fulfils a promise made to the Austrian government two years ago to reduce its stake in the company to no more than 51%.
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Oberbank, the Austrian regional lender, is considering a €100m rights issue in the fourth quarter to strengthen its balance sheet and finance its plans for expansion and earnings growth, the company said this week.
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Austrian construction firm Porr has completed an amended and extended €65m of Schuldscheine signed last year, securing tighter margins and longer tenors.
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Erste Bank announced the redemption of three legacy tier ones this week, with the Austrian lender possibly set to leap into the additional tier one (AT1) market this summer.
